Mic entity B/ S Format & Director's Loan in Credit

Companies House WebFiling issues

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Hello - Looking for suggestions on how to enter Director loan position in credit for the Balance sheet of a Micro Entity in Companies House WebFiling platform. Should be a very simple process as the entity has hardly traded, has no fixed assets nor short term liabilities and an initial negative P&L.

FRS -105 offers two possible formats for a micro entity balance sheet (B/S). But Companies House is set up for only Format 1.

If you treat the sole director's funding of the bank account as a 5 year loan payable in arrears after five years (should make no difference to data entry), the WebFiling field Creditors due after more than one year forces a negative number entry. A loss in P&L then makes the Net Assets less Liabilities negative and likewise the Capital & Reserves.

Likewise, if you had the Director's Loan Account in Creditors due within one year and the company owed the director (so positive balance and no other current liabilities), that field too will not allow the entry of a positive number.

Have any of you professionals come across this issue and perhaps can enlighten me? I would be most grateful.

Before I send them an an email with screen shots. Probably applies to other instruments too.

Cheers, SW

Replies (11)

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By Ruddles
31st Mar 2023 20:49

I don’t quite understand the issue. Assets are +ve, liabilities are -ve, so why would you expect anything else?

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Replying to Ruddles:
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By StoneyWood
01st Apr 2023 10:22

Simple really. If the DLA is in credit like when the director has lent to the company. The cell on the web page is programmed to accept negative numbers only so the value would not be accepted.

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Replying to StoneyWood:
By Ruddles
01st Apr 2023 13:02

What's the problem, then? A credit balance on a DLA should be entered as a negative number. Job done.

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By Leywood
31st Mar 2023 21:26

StoneyWood wrote:

Have any of you professionals come across this issue and perhaps can enlighten me? I would be most grateful.

No.
I could.
Gratitude is usually shown by paying my fee.

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By Truthsayer
01st Apr 2023 09:32

I know the answer to this, and so does your accountant, so ask him.

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By StoneyWood
01st Apr 2023 10:24

Judging by the discourse on here, doubtful.

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Replying to StoneyWood:
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By spilly
01st Apr 2023 11:08

You asked for suggestions, not answers.
You have been advised to talk to your accountant about the issue.
We know the answer as we are accounting professionals, and we can choose not to share our knowledge unless we are being paid.

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Replying to spilly:
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By StoneyWood
01st Apr 2023 12:42

Silly, the job is done and the filing complete.

I hope you know what "the second bounce of the ball" means.

Enjoy the blue collar work.

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Replying to StoneyWood:
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By Hugo Fair
01st Apr 2023 12:52

I hope you know what "the second bounce of the ball" means.

Why? Do you want that explained as well?

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Replying to StoneyWood:
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By Hugo Fair
01st Apr 2023 15:20

"Never to late for you to grow up though" ... or in your case to learn some manners.

But I'll wear my 'Prat' badge with pride - so thanks.

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Replying to StoneyWood:
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By Truthsayer
02nd Apr 2023 13:08

Do you get the irony of what you said to Hugo? Your comments would be better addressed to the mirror than to him.

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